So, Madonna took a tumble down some steps at the Brit Awards last week.
Hopefully she won’t make a habit of it but if she did plan on wandering around
her home in a cape, might she be best on avoiding the stairs altogether and
getting a bungalow?
If she wanted to rent one in Chichester she’d be out of luck. Of the
four bungalows recently available, they have all been let. That shows that
bungalows, not necessarily considered prime buy-to-let properties, are actually
in relatively strong demand compared to their weak supply.
There are 13 available for sale, of which four have already sold (less
demand there then). They range in price from £230,000 for a 2 bed in Swanfield
Drive, up to £500,000 for a 4 bed down Appledram Lane.
There is an argument that bungalows could be a solid investment as we
are witnessing an ever-aging population. As a (very) long-term rental property,
the current ‘generation rent’ tenants will eventually succumb to the need for a
bungalow. Could it be that the trend for shiny new-build flats will make way for
a nice simple bungalow as times change? What about all the bungalows that have
been demolished in favour of creating two-semis?
That shift in demand seems a very long way off and whilst the evidence
shows that bungalows can rent, I’d much rather have a two-storey house than a
bungalow and know many of my waiting tenants feel the same.
How do you think shifts in demographics will affect the property market
and how can we plan (and benefit) from it?
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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.
E-mail me on clive@crjlettings.co.uk or call 01243 624 599.
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